Take heart, CPP stragglers. The Senate National Finance Committee has tabled a report cataloguing the number of Canadians who are eligible for, but living without, Canada Pension Plan (CPP) benefits because they failed to apply for the plan's retirement pension.

The Report on the Financial Security for Seniors: Entitlements and Retroactivity Provisions under the Canada Pension Plan was tabled March 11.

"The federal government has stepped up efforts to inform seniors of their eligibility for the pension and how to apply," said Senator Joseph A. Day, chair of the National Finance Committee, in a press statement. "Unfortunately, while the information campaign has reached some seniors, there remain many others who are living without money to which they are entitled through years of contributions to the Canada Pension Plan.

The Office of the Chief Actuary informed the committee last fall that, as of July 2005, it has identified approximately 26,430 eligible CPP contributors aged 70 and over who have not yet applied for their retirement pension. In light of this, the report of the National Finance committee recommends that the federal government be more proactive in its efforts to inform Canadians of their entitlements under the CPP.

Currently, seniors who apply late for their retirement pension receive up to 11 months of retroactive payments. The Quebec Pension Plan, on the other hand, allows eligible applicants aged 65 and older to retroactively claim benefits for a period up to 60 months.

The report recommends that the federal government consult with the provinces with a view to increasing the retroactivity period and to determine what would be appropriate.

"We heard a number of scenarios for different options - periods similar to what already exists, five years, like the QPP, up to full retroactivity," said Senator Terry Stratton, deputy chair of the Committee. "The plan is co-stewarded by the federal government and the provinces, so it makes sense that they need to recognize this as an issue and hold consultations to determine what is best." For a copy of the report visit senate-senat.ca/fina.asp.